Mechanics of the tax, due dates and estimated taxes Of significance, partnerships seeking to file a group MCTMT return on behalf of their partners must request permission from the state no later than September 15, 2009. Similarly, the period for calculating such estimated taxes does not correspond to the periods used for calculating estimated personal income taxes. In some cases, this new tax will impose an administrative burden on operating partnerships, notably because the due dates for payments of estimated tax do not coincide with other common filing deadlines. The MCTMT is not deductible in determining entire net income for purpose of the New York State and City corporate income taxes, the New York City unincorporated business tax, or the New York State and New York City personal income taxes. For 2009, 10/12 of the allocated self-employment income is subject to tax.
For self-employed individuals for years beginning on or after January 1, 2009, the tax applies to self-employment income allocated to the MCTD earned during the taxable year that that exceeds $10,000 per year. The New York State Department of Taxation and Finance (the Department) administers the tax.įor employers, the MCTMT applies retroactively from March 1, 2009. The MCTD includes the counties of New York (Manhattan), Bronx, Kings (Brooklyn), Queens, Richmond (Staten Island), Rockland, Nassau, Suffolk, Orange, Putnam, Dutchess and Westchester. The MCTMT is a new 0.34 percent tax imposed on the payroll expense of employers and the net earnings of self-employed individuals engaging in business within the Metropolitan Commuter Transportation District (MCTD). In May 2009, Governor Paterson signed into law the Metropolitan Commuter Transportation Mobility Tax (MCTMT).
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